CYOA: Choose Your Own Adventure

The financial services industry has undergone considerable change in recent years due to financial deregulation, globalisation, new technologies and the emergence of new markets and new products. In some areas of the industry increasing government regulation will heighten the need for relevant high quality staff training and skill development in the years to come.

Financial Branch Manager

DESCRIPTION - Financial institution branch managers direct the local activities of the branches of banks and related financial institutions such as building societies and credit unions.

Related Industries:

Financial Enterprises
Banks and Insurance

DUTIES - Financial institution branch managers may perform the following tasks:

Develop and put into practice business plans, policies and procedures for the branch
Keep systematic business records and prepare financial statements, budgets and reports
Promote the institution with local clients and firms in order to generate business for the branch
Give financial advice about interest rates, and investment and loan products
Deal with customer inquires and complaints
Make sure that the branch conforms with security regulations
Make sure that the branch’s funds balance at the close of business and investigate any discrepancies
Interview applicants for loans
Check loan and credit applications and make recommendations to the institution’s central processing department.

WORK ENVIRONMENT - While financial institution branch managers mainly work indoors, they may be required to travel between branches. Working hours can therefore extend beyond the normal opening hours for the branch.

PERSONAL ATTRIBUTES -

Good oral and written communication skills
Good organisational and time management skills
Some ability in mathematics
Able to work under pressure
Leadership skills
Able to analyse and solve problems

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Financial Planner

DESCRIPTION - Financial planners develop and implement financial plans for their clients. Some of the areas a financial planner will advise on are: retirement planning, superannuation, taxation, debt management, insurance and risk, estate planning, managed investments, securities and futures markets. Financial planners may also specialise in such areas as: ethical investments, loans and mortgage advice, taxation advice and more.

Financial planners may specialise as a:

Investment Banker/Merchant Banker
Investment Officer
Superannuation Fund Administrator

DUTIES - Financial planners may perform the following tasks:

Gather clients’ financial data such as income, cash flow, debts, loan repayments, investments and living expenses
Identify clients’ goals, objectives and their attitude to risk
Analyse client’s financial status in regard to their objectives and identify any issues or problems
Prepare a written financial plan
Assist client in implementing the financial plan
Regularly review and revise plans based on changes in the client’s needs and changes in investment markets and the economy
Refer clients to obtain services outlined in financial plan such as banking or insurance
Keep up your personal knowledge of changes in financial markets, the economy and relevant legislation.

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